Veterans give entrepreneurs tips on

  • how to succeed in business

Hyderabad: Confederation of Indian Industry (CII) organised a conference “Entrepreneur 2.0” with the theme “Innovation: Transforming Ideas to Business” in Hyderabad on Friday.

During his keynote address, C K Ranganathan, Founder Chairman, CavinKare Pvt Ltd, said that in order to guarantee success, it is imperative that ‘the right people with the right attitude’ are recruited for the job. Sharing his experience as an entrepreneur, he said it is important that the views of the employees are taken into consideration before taking any decisions that affect the future of the company. He also said that any entrepreneur should have a long term vision in mind while starting his venture and he should implement his vision with passion. In his speech, he shared the growth journey of CavinKare since its inception.

Delivering his special address, Prof. Rajendra Srivastava, Dean, Indian School of Business, emphasised that every entrepreneur should realise that ideas, innovation and technology are needed, at the end of the day it is business that matters. He said that an entrepreneur should develop an idea for a problem worth solving. He also emphasised that any good idea can only succeed if a good team is in place. He said that though starting a business is good, the focus should be on scaling-up. He also shared examples of how various companies have distinguished themselves on the basis of invention, efficiency and branding. He stressed that the focus should not always be on the balance sheet but also on those that are not, such as value generation for customer, trust, etc.

Delivering the theme address, Suresh Chitturi, Chairman, Srinivasa Hatcheries, shared his views on the traits of some of the successful entrepreneurs of the past few years. He also shared with the participants some of the initiatives that have been taken up by CII at the national, regional, state and zonal levels in order to develop the entrepreneurial ecosystem in the country. He also invited the participants to join the ‘Startupreneurs’, a recent initiative by CII which provide the platform for individuals with new ideas to connect with bankers, venture capitalists and angel investors.

In his concluding remarks, Neeraj Sarda, Co-Chairman, CII Southern Region Entrepreneurship Development Sub-committee, said that there is a need to develop collaborations between governments, businesses, academia, financial institutions, and entrepreneurs, in order to foster the entrepreneurial ecosystem in the country. He also said that sometimes bringing in people from outside, who can question the process, can help in making it more efficient. He mentioned that technology is only a facilitator, but innovation is about identifying a problem worth solving and using existing models to find the solution.

J Nrupender Rao, Chairman, CII Telangana and Chairman, Pennar Industries Limited, welcomed the participants. The conference, attended by over 200 participants, also focused on emerging innovations, financing options for entrepreneurs and inclusive entrepreneurship. -NSS

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